Archive for September, 2007
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Short Term Analysis - September 12, 2007
EURUSD is testing the previous high resistance at 1.3851, further rise above this level to reach the next cycle top on daily chart is still possible in a couple of days, and sideways consolidation can be seen after breaking above this level. Near term support is at the up trend line from 1.3360 to 1.3550, and followed by 1.3550, only break below 1.3550 level will signal the reversal to the up trend. For long term analysis, EURUSD is in sideways consolidation to the long term up trend and will move without trend in a range between 1.3262 and 1.4000. Up trend will resume after consolidation and rise towards 1.4300 to reach the next cycle top on weekly chart is still possible.
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USDCHFÂ USDJPYÂ EURUSDÂ GBPUSDÂ USDCADÂ AUDUSD
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Short Term Analysis - September 11, 2007
EURUSD
EURUSD is in up trend. The rise form 1.3360 extended to as high as 1.3814, and further rise towards 1.3851 (Jul 24 high) to reach the next cycle top on 4 hours chart is expected. Near term support is at the up trend line from 1.3360 (Aug 16 low) to 1.3550, and as long as the trend line support holds, up trend will continue.
Short Term Analysis - September 10, 2007
EURUSD
EURUSD broke above 1.3719 previous high resistance, and reached as high as 1.3798. Further rise towards 1.3851 (Jul 24 high) to reach the next cycle top on 4 hours chart is still possible. Near term support is at the up trend line from 1.3360 (Aug 16 low) to 1.3550, and as long as the trend line support holds, up trend will continue.
Short Term Analysis - September 7, 2007
USDCAD
USDCAD is in down trend, the rise from 1.0480 is treated as consolidation to the down trend. Further fall below 1.0461 (Aug 8 low) to reach the next cycle bottom is expected. Key support is at 1.0339 (Jul 24 low), and this support will more likely be held. Near term resistance is at 1.0581, and followed by 1.0676, a break above 1.0676 level will signal the resumption of the up trend.
Short Term Analysis - September 6, 2007
USDJPY
USDJPY topped at 116.46 on 4 hours chart, further fall below 113.86 previous low to reach the next cycle bottom can be seen in a couple of days. Near term resistance is at 116.46, only break above this level will signal the resumption of the up trend.
Short Term Analysis - September 5, 2007
Key support at 1.3560 is broke below, EURUSD topped at 1.3719 level. Further fall below 1.3360 to reach the next cycle bottom on daily chart is expected. Near term resistance is at 1.3719, only break above this level will signal the resumption of the up trend. For long term analysis, EURUSD is in sideways consolidation to the long term up trend and will move without trend in a range between 1.3262 and 1.3851. Up trend will resume after consolidation and rise towards 1.4300 to reach the next cycle top on weekly chart is still possible.
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Short Term Analysis - September 4, 2007
USDCAD
USDCAD topped at 1.0676 on 4 hours chart. Further fall below 1.0469 previous low to reach the next cycle bottom is expected. Key support is at 1.0339, and this support will more likely be held. Near term resistance is at 1.0676, a break above this level will signal the resumption of the up trend. Read the rest of this entry »
Short Term Analysis - September 3, 2007
EURUSD
EURUSD is topping at 1.3719 on 4 hours chart, key support is at 1.3562, a break below this level will confirm the cycle top and further fall towards 1.3480 area can be seen. Near term resistance is at 1.3719, only break above this level will signal the resumption of the up trend. Read the rest of this entry »
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